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FINANCIAL NEWS
Dubai, Abu Dhabi stocks delay merger
13 Jul 2014
(MENAFN) Dubai Financial Market has delayed its plan to partner the Abu Dhabi Securities Exchange (ADX) as terms for the politically sensitive move could not be agreed, according to Arab News.
A merger of the DFM and the ADX seemed to take an important step closer last year as a number of investment banks were chosen to advise on a tie-up.
The state-backed deal was expected to improve financial markets in the UAE, making it easier for investors to operate across the markets, stimulating trade and attracting more foreign investment.
However, despite a number of key impediments being overcome since then, talks have stalled and a deal is now unlikely to happen any time soon.
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